Revises title XIX (Medicaid) of the Social Security Act (SSA) to: (2) require states to elect either a block grant for acute care services or implement a refundable tax credit for the Medicaid population for such services; (2) phase-out disproportionate share hospital (DSH) payments; and (3) establish a block grant to states for long-term care services.

Amends SSA title XVIII (Medicare) to create a program for new beneficiaries beginning in 2019, increasing the Medicare eligibility age to 65, and making an income-related reduction in the part D (Voluntary Prescription Drug Benefit Program) premium subsidy.

Social Security Personal Savings Guarantee and Prosperity Act of 2008 - Amends SSA title II (Old Age, Survivors and Disability Insurance) (OASDI) to establish a Personal Social Security Savings Program, under which participating individuals will have their Social Security contributions directed to personal Social Security savings accounts. Establishes a Self-Liquidating Social Security Transition Fund.

Competitive American Business Tax - Amends the Internal Revenue Code to: (1) repeal the corporate income tax; and (2) impose a tax on the sale of property in the United States, the performance of services in the United States, and the importing of property into the United States by a taxable person in a transaction engaged in by a corporation or any other person (other than a corporation) in connection with a business.

Allows as a credit against such tax any tax paid by sellers to the taxpayer of property and services which the taxpayer uses in the business to which the transaction relates.

Exempts certain organizations and transactions from such new tax.

Budget Control Act of 2008 - Establishes a mechanism for issuance by the President and the Office of Management and Budget (OMB) of spending reduction orders. Exempts Social Security benefits and obligated balances from such orders. Provides for suspension of such mechanism in the event of war or low-growth.

Authorizes the majority leader of either House of Congress to introduce a joint resolution to direct the President to modify a final spending reduction order or provide an alternative to eliminate the spending excess for a fiscal year.

Amends the Congressional Budget Act to make it out of order for the House or Senate to consider any legislation that would cause: (1) an excess spending amount; or (2) aggregate federal revenue levels exceeding a specified percentage of revenue relative to the Gross Domestic Product, unless so determined by a vote of at least three-fifths of the Members voting, a quorum being present.